Sabina Gold & Silver Announces Zhaojin Exercise Of Participation Rights

Press Release

December 13, 2018

Vancouver, BC – Sabina Gold & Silver Corp (SBB.T), (“Sabina” or the “Company”) has announced today that in connection with the Company’s C$22.0 million bought deal offering (the “Offering”), Zhaojin International Mining Co., Ltd. (“Zhaojin”) has elected to exercise its participation right under its Shareholder Agreement with the Company dated December 19, 2017, as amended, to purchase 1,831,671 common shares of the Company (“Common Shares”) by way of a private placement (the “Zhaojin Private Placement”) which would raise an additional C$2.2 million. In the event that the underwriters for the Offering elect to fully exercise the over-allotment option in connection with the Offering, then Zhaojin has agreed to instead subscribe for a total of 2,106,422 Common Shares, which would raise approximately C$2.53 million.

The net proceeds of the Offering and the Zhaojin Private Placement will be used to advance development

of the Company’s Back River Gold Project and for working capital and general corporate purposes.

Sabina Gold & Silver Corp.

Sabina Gold & Silver Corp. is well-financed with approximately C$39.4 million in cash and equivalents and is an emerging precious metals company with district scale, advanced, high grade gold assets in one of the world’s newest, politically stable mining jurisdictions: Nunavut, Canada.

Sabina released a Feasibility Study on its 100% owned Back River Gold Project which presents a project that has been designed on a fit-for purpose basis, with the potential to produce ~200,000 ounces a year for ~11 years with a rapid payback of 2.9 years (see “Technical Report for the Initial Project Feasibility Study on the Back River Gold Property, Nunavut, Canada” dated October 28, 2015).

The Project received its final Project Certificate on December 19, 2017 and its Type A Water License on November 14, 2018 and is now in receipt of all major authorizations for construction and operations.

In addition to Back River, Sabina also owns a significant silver royalty on Glencore’s Hackett River Project. The silver royalty on Hackett River’s silver production is comprised of 22.5% of the first 190 million ounces produced and 12.5% of all silver produced thereafter.

For further information please contact:

Nicole Hoeller, Vice-President, Communications:1 888 648-4218
nhoeller@sabinagoldsilver.com

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